Rent out your house to tourists in Lagos
Renting to tourists in Lagos can be financially very interesting. The town has an attractive rental market with over 3923 rental homes with active management. The average yearly occupancy rate is 67%. The many beautiful beaches in combination with the hospitality of the Portuguese people and the historical centre make Lagos a very appealing place to visit. Lagos is attracting more and more French, German and Scandinavian tourists. The total rental turnover has been growing steadily in the last few years.
Tip: Do you like to know if renting out to tourists in Lagos is interesting for you?
Best rental prices in Lagos
The active rental season in Lagos starts around the Easter holidays and ends at the end of October. Logically the peak is during the 8-week summer holidays. But Lagos is also in winter a popular destination for those who want to escape the cold European winters. During the winter months, the occupancy rates are higher than surrounding villages in the Algarve. Many couples (mainly 55+) enjoy the city centre and the harbour of Lagos during these colder months.
We monitor and analyse the performance of all our properties in the Lagos area on Airbnb, Booking.com and HomeAway. With these sales numbers, we can well predict how to best market your accommodation. Don’t lose money by experimenting yourself. Let Rental Valley take care of managing your property and benefit from the maximum achievable result.
Our rental team in Lagos
Rental Valley’s rental team takes care of everything. From professional photography, advertising your property, maintenance and repairs, rate-optimizing, 24/7 helpdesk and more. We take away all the hassle so you can earn an effortless income. Click to read more about our property management services in Lagos.
Current laws and regulations for rental in Lagos
Before being able to welcome paying guests in Lagos, you need to register your property as tourist rental accommodation. with the local town hall (câmara municipal), to obtain a rental license known as an Alojamento Local. You can do this registration in person or using this link. We have a partnership with a local specialist that can assist you with the process. If you’re unfamiliar with these procedures (and don’t speak Portuguese), you can save yourself a lot of time and hassle by paying someone to assist.
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Seasonal influences on the rental market of Lagos
As most coastal villages in the Algarve, Lagos is suffering from seasonal influences on the monthly rental revenue. However, Lagos is performing remarkably well in the pre- and post-season compared to other similar places. Elderly couples visiting Lagos in wintertime and the good connection with Faro’s airport being within a 1-hour drive, have a positive effect on the occupancy rates.
Best performing apartments in Lagos
An average apartment in Lagos offers 2,1 bedrooms and 5 guests on average per booking. The most popular are 2-bedroom apartments.
Why outsource rental management in Lagos?
It seems easier than ever to rent your holiday home to tourists in Lagos. But competition is growing fast. To reach the top in your segment you need to be active and professional. Nobody likes to be interrupted during a romantic dinner for two. And who enjoys cleaning the same apartment three times per week? With so much to do, it’s unsurprising that many owners decide to put everything in the hands of a management company. Rental Valley takes care of everything so you can enjoy a hassle-free life! With many years of experience in all aspects of top-quality property management, we can assist in optimizing your rental profits in Lagos. Call or e-mail us